Nifty ~ Long term investment opportunity coming this year end.?
Price structure looking weak expecting some bounce near 10100 levels( AVWAP price from Demonetization lows ) and temporary bounce to current VPOC price at 10780, will decide further course of action from there. But as of now by bias is bearish for-
Target 1 - 10100. Likely Case. (Previous swing low pivot support )
Target 2 - 9085. Best case (Previous swing high pivot support)
Target 3 - 8250. Worst case and best for investment level. ( 2016 AVWAP price from 2011 Dec lows, which coincides with 200 MA on monthly chart.)
Note - Not for trading purpose.
Target 1 - 10100. Likely Case. (Previous swing low pivot support )
Target 2 - 9085. Best case (Previous swing high pivot support)
Target 3 - 8250. Worst case and best for investment level. ( 2016 AVWAP price from 2011 Dec lows, which coincides with 200 MA on monthly chart.)
Note - Not for trading purpose.
Trade active:
Today low - 8555. Intensity of fall making me think 6075 can be visited if 8150 failed to take support (Important AVWAP and VPOC support). Which will make 6075 (200 Monthly MA) as potential bottom.